Superannuation is an investment that provides money for retirement. Employers must currently pay the equivalent of a minimum of nine percent of your base income into your nominated superannuation fund. Superannuation funds invest your money with the objective of providing a positive return on it. However, depending on your investment strategy your returns will vary from year to year. These savings should have grown significantly over your working life and are expected to provide you with the income necessary to fund your retirement. You can also make personal contributions to boost your superannuation and you may be eligible for the Government Co-contribution scheme.

It is never too late to get your super sorted but the sooner you start to take control of your superannuation the sooner you can take advantage of the tax effective benefits of super.